Vendor Lynx - Vendor Master File Clean-up

Vendor Data Management

Your vendor master file is a repository of a substantial amount of supplier information that your organization utilizes for payments, invoicing, and purchase orders.  If neglected or poorly managed your vendor master file  could present risk, such as duplicate vendor data, invalid tax IDs, invalid or old addresses and federally sanctioned vendors leading to risk of fines and lost revenue.

What’s at Risk?

Your bottom line! Aging vendor master files expose your organization to risk.

  • Internal & External Fraud
  • Revenue Leakage
  • IRS Fines & Federal Sanctions
  • Lost Profits Month over Month
  • Inaccurate Vendor Information

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Immediate Benefits

You gain tangible benefits immediately by reducing fraud, waste, and abuse.

  • Minimize Duplicate Payments
  • Reduce Fraud
  • Increase Employee Productivity
  • Improve Regulatory Compliance
  • Streamline Enterprise-wide Processes

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Global EDGE Difference

You gain an enterprise-wide holistic vendor management in a single-source solution.

  • Proactive Vendor Management
  • Drives Vendor Management Automation
  • Predictive Tools for Fraud Identification
  • Document Capture and Validation
  • Regulatory Compliance

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Areas of Identification

In-depth analysis reveals areas of profit loss, over-payments, and vendor fraud.

  • Duplicate Vendor Information
  • Missing or Invalid Tax IDs
  • Sanction Screening
  • Spend Analysis for Risk
  • Address Integrity Checks

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"Billing schemes, which may be prevented or detected by sound master vendor file controls, make up about 24 percent of all fraud cases with a median loss of $100,000 per incident."

~Association of Certified Fraud Examiners, www.acfe.com